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            Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

            Provisions expressly mentioned in the judgment/order text.

            <h1>Setoff of Unabsorbed Depreciation: unabsorbed depreciation carries forward indefinitely and offsets taxable income subject to order of priority.</h1> Current year depreciation is deductible against income for the assessment year; any unabsorbed depreciation is carried forward indefinitely and may be set off against income under any head other than salary. Adjustment priority requires current depreciation and specified current expenditures first, then brought forward business losses, and lastly brought forward depreciation; carry forward is available despite discontinuance of business or late/non filing of return, but generally only to the same assessee except in specified succession or reorganisation scenarios.

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